USA: Bankers play down rumours that Kraft may bid for United Biscuits
Bankers are playing down media speculation that Kraft Foods, the world's second-largest food group, is considering making a bid for United Biscuits (UB) of the UK. Share in Kraft fell 2% on Monday following a report in the weekend newspaper The Business that suggested Kraft approached UB with a buyout bid that valued it at up to £2.4bn (US$3.52bn). Sources close to Kraft denied knowledge of any bid.
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